Binance Rolls out Crypto Payment Service in US

Binance has introduced its Pay service in US, allowing users to send, request and receive crypto with instant settlement and no fees. The feature has previously been available outside US.

The feature has been available to Binance customers outside the US since February 2021 when it was first launched. Back then, Binance founder and CEO said payments is one of the most obvious use cases for crypto.

Binance Pay allows users to send, request, and receive nearly 150 different crypto currencies from other users, enabling instant, zero-cost crypto transfers, as the company advertises. Binance recently eliminated trading fees for both bitcoin (BTC) and ethereum (ETH) to attract more users during a time when crypto trading volumes are at two-year lows.

As representatives see it, Binance Pay can eliminate the complexities of transferring crypto to contacts as users no longer need to enter a complex deposit or withdrawal address, or wait an unspecified amount of time for transactions to successfully settle. Binance users will be able to use the feature immediately while the exchange is also working on a web version.

(Source: The Paypers)